To restore functionality when this library fails, the following steps are standard:

VMIXCODECLIBRARY.dll is a Dynamic Link Library file developed by vMix, the same company behind the popular video mixing software (vMix.com). A DLL file, in essence, is a shared set of instructions that multiple programs (or multiple parts of the same program) can use simultaneously. This modular design saves memory and simplifies updates.

(specifically the 2010 or 2012 packages) often prevent vMix from loading its own DLLs. Improper Installation